DoJ Charges Trader of Hacking, Placing Illegal Trades

The US Department of Justice recently charged a trader for hacking into various financial companies and making unauthorized trades.

Pennsylvanian Joseph Willner was reported to have ran a scheme with a partner where he put up “short-sale” offers at inflated prices. Willner and his partner then used the hacked trading accounts of several brokerage firms to buy the offers, which he then bought back at a much lower price.

The operations were carried out sometime between September 2014 and May 2017, where the two netted around $700,000. Investigators also discovered that Willner used IP addresses from the same cities and converted the stolen funds to Bitcoin before transferring it.

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